Deal closes on Reagan building

A buyer has finalized the $10.01 million purchase of the Ronald Reagan Federal Building in downtown Harrisburg.

  • However, the buyer’s identity remains a mystery.
  • A deed filed with Dauphin County lists the buyer as R.R.F. Building LLC,which has a tax billing address at a law firm in South Carolina.

  • Efforts to reach the law firm, De Bruin Law, were not successful.
  • The LLC was created in December, according to Delaware corporation records.
  • A spokesperson for the General Services Administration, which manages federal real estate, declined to disclose any details beyond the buyer’s name.

Why is this happening: The federal government auctioned off the 11-story Ronald Reagan building at 228 Walnut St. late last year as federal workers prepare to move to a new building in Midtown Harrisburg.

  • The high bid in the auction was $10.01 million.

What’s next: Harrisburg planning director Geoffrey Knight said he is not aware of any plans put forth by the building’s new owner.

  • However, any potential reuse would likely come before the city planning commission, particularly if there is a signficant change, such as a conversion to residential units, Knight wrote in an email.

The bottom line: At 246,000 square feet, the Ronald Reagan building represents a prime redevelopment opportunity in Harrisburg.

  • But it will take some work. The building contains asbestos and lead paint, according to bidding documents.
  • And the federal government is in no hurry to leave the premises. Under an agreement with the buyer, the government reserves the right to use the building for another two years.

–by Joel Berg, editor of biznewsPA

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